NAC361.410. Use of unit rule of valuation.

In the valuation of those properties which are listed in NRS 361.320, the unit rule of valuation will be used when considered applicable. The unit rule generally applies to companies which own or operate lines or roads which lie partly within and partly without Nevada. In these cases, the Department will only value and assess the property within the State. In determining the value of the portion within the State, the Department may take into consideration the value of the entire system, the mileage of the whole system and of the part within the State, together with such other information, facts and circumstances as will support a substantially just and correct determination.

     [Tax Comm’n, Property Tax Reg. part No. 15, eff. 10-30-79]